CTAP vs. PFIX
CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) and PFIX (Simplify Interest Rate Hedge ETF) are both exchange-traded funds - CTAP is a Diversified Portfolio fund actively managed by Simplify, while PFIX is a Hedge Fund fund actively managed by Simplify. Both are actively managed. At a 0.03 correlation, their price movements are largely independent. CTAP charges 0.10%/yr vs 0.50%/yr for PFIX.
Performance
CTAP vs. PFIX - Performance Comparison
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Returns By Period
In the year-to-date period, CTAP achieves a 7.96% return, which is significantly higher than PFIX's -0.95% return.
CTAP
- 1D
- 2.15%
- 1M
- -4.45%
- 6M
- 3.36%
- YTD
- 7.96%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PFIX
- 1D
- 0.47%
- 1M
- 3.10%
- 6M
- 0.73%
- YTD
- -0.95%
- 1Y
- -9.65%
- 3Y*
- 16.45%
- 5Y*
- 20.64%
- 10Y*
- —
CTAP vs. PFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 7.96% | 2.22% |
PFIX Simplify Interest Rate Hedge ETF | -0.95% | -0.50% |
Correlation
The correlation between CTAP and PFIX is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 9, 2025 | 0.03 |
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Return for Risk
CTAP vs. PFIX — Risk / Return Rank
CTAP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PFIX
CTAP vs. PFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP) and Simplify Interest Rate Hedge ETF (PFIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CTAP | PFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.97 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.38 | — |
| Martin ratioReturn relative to average drawdown | — | -0.56 | — |
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Drawdowns
CTAP vs. PFIX - Drawdown Comparison
The maximum CTAP drawdown since its inception was -20.48%, smaller than the maximum PFIX drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for CTAP and PFIX.
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Drawdown Indicators
| CTAP | PFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.48% | -36.17% | +15.69% |
Max Drawdown (1Y)Largest decline over 1 year | — | -25.64% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -36.17% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.17% | — |
Current DrawdownCurrent decline from peak | -15.43% | -18.33% | +2.90% |
Average DrawdownAverage peak-to-trough decline | -4.40% | -17.21% | +12.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 17.30% | — |
Volatility
CTAP vs. PFIX - Volatility Comparison
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Volatility by Period
| CTAP | PFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.44% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 22.16% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 24.47% | 29.34% | -4.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.47% | 38.55% | -14.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.47% | 38.20% | -13.73% |
CTAP vs. PFIX - Expense Ratio Comparison
CTAP has a 0.10% expense ratio, which is lower than PFIX's 0.50% expense ratio.
Dividends
CTAP vs. PFIX - Dividend Comparison
CTAP's dividend yield for the trailing twelve months is around 1.84%, less than PFIX's 9.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 1.84% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PFIX Simplify Interest Rate Hedge ETF | 9.78% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% |
Frequently Asked Questions
CTAP and PFIX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CTAP is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CTAP is cheaper with a 0.10% expense ratio, compared with 0.50% for PFIX.
PFIX has the higher dividend yield at 9.78%, compared with 1.84% for CTAP.
CTAP is categorized as Diversified Portfolio, while PFIX is Hedge Fund. Their fees differ too: 0.10% for CTAP and 0.50% for PFIX.
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